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How to Learn Spread Betting and Prosper
Which broker to use and why
If you're starting out spread betting there's only one broker I'd recommend - Finspreads. Not only have I been a client for the last 7 years but they offer an unbeatable advantage to the new spread better, one which no other broker offers -

the ability to trade at just 10p a point for the first 2 months after account opening

Most other brokers will insist on £1 which is far too much when starting to learn the business. The number one mistake that people new to trading make, especially when it comes to a trading leveraged products like spread betting, is they risk too much money in the beginning.

Mistakes will be made, some of them big but if you trade at 10p a point it's hard to lose more than a few pounds on any given trade. But start betting at £1 a point and a mistake can easily cost hundreds. Too many of those and it's likely your spread bet career will be over before it properly starts.

50p minimum stake (after 2 months)

After the 2 month 10p minimum stake period ends the minimum then gets raised to 50p with Finspreads. But yet again this is an advantage over a £1 minimum stake and I talk more about this below.

Summary: When you first start out you're going to make mistakes while you learn the game which is why trading at 10p a point is an advantage. FinSpreads are the only spread bet broker that offer this facility.

Further reasons why I like and recommend FinSpreads
  • Excellent online software - The software is internet based so your account can be accessed from any PC with an connection. Plus, solid charting facilities

  • Free Trading Academy course - An education programme for new customers covering all aspects of spread betting from getting started through to trading tactics, along with an in-depth guide to their trading software

  • Competitive prices - Tight bid-offer spreads mean smaller costs, small costs mean you retain more of your money it's as simple as that

  • Customer service - Whenever I've called it's been excellent

  • Free iPhone App - Follow the markets, monitor your positions, enter and update orders via your iPhone

  • Free Seminars - Held about once a month

  • FSA regulated and money guaranteed - Fully regulated plus client deposits are 100% guaranteed up to £48k

  • Zero currency risk - If you trade non UK markets your bet will still be denominated in pounds, so no hassle of having to change Dollars or Euros into/out of Sterling

  • 24 hour trading - Although I don't recommend people try to follow the markets all the time, 24 hour prices on the larger markets is welcome especially when prices get super heated and volatile

  • More details on Finspreads website
I also like and use the broker IG Index

Although I recommend Finspreads when starting out because of their 10p minimum I also like and personally use IG Index. Read my IG versus Finspreads review on this link.

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